Source: US Dept. of Treasury End of Day
The past few weeks have been nothing short of extraordinary. The world continues to be mired in the COVID-19 pandemic that has impacted lives, fractured complicated global supply chains, cloistered millions and sent ripples through economies and markets.
The policy response to the pandemic is awe inspiring for both its size and the speed of delivery. What took months in 2008 & 2009 now takes mere days. We take time in this note to answer three things:
Why such a strong response from fiscal and monetary policy makers?
What are the various aspects of the policy responses?
How have markets responded?